Parallel Systems
Autonomous Zero-Emissions Freight Transportation
Autonomous Zero-Emissions Freight Transportation
Parallel Systems is a cutting-edge startup focusing on Autonomous Zero-Emissions Freight Transportation. Founded in 2020 and headquartered in the United States, the company is revolutionizing intermodal transportation. Its mission is to decarbonize freight, enhance supply chain logistics, and improve safety. Parallel Systems is at the forefront of developing both vehicles and software to facilitate new autonomous and electric transportation systems, utilizing existing rail infrastructure. With the ambitious goal of shifting a portion of the $700 billion U.S. trucking industry to rail, the company is poised for significant impact in the transportation sector.
Having recently secured a substantial $49.55M Series A investment on 19 January 2022, Parallel Systems has attracted prominent investors including Congruent Ventures, Anthos Capital, Riot Ventures, and Embark Ventures. This crucial funding underscores the confidence that key players in the investment community have in the potential of the company's vision and capabilities.
| Funding Stage | Amount | No. Investors | Investors | Date |
|---|---|---|---|---|
| Series A | $49.55M | 4 |
|
19 Jan 2022 |
| Seed Round | $3.80M | 2 |
|
22 Jun 2020 |
No recent news or press coverage available for Parallel Systems.
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